Brainlet question, but I need to know. How do all the exchanges

People making buy and sell orders is what sets the " price ".

>>3085732
It's not the exchanges but the users.
If you can buy cheap at bittrex, send to polo and sell there expensive then people will do that until it evens out. This is called arbitrage trading.
So far the theory.
In reality there are many many bots run by users doing this for every little price variation in both directions.

>>3085752
But how does a service like coinmarketcap know the price of the coin in full. Does it take the average of all the exchanges a coin is being traded on?

I know that the users is what determine the price. But what you're saying is that thanks to these arbitrage bots, that's what make the price relatively congruent on all exchanges? Do the users own the bots or do the exchanges?

Pls anons

Bro can you fucking research? Bots use api provided by the exchange. There are like 3 bots in bitcointalk.org which is kind of the semi official bitcoin forums. Go fucking read and Google you pleb

>>3086216
Gee, thanks senpai

>>3085817
You usually can find somewhere in there disclaimer what price they show. Might be a specific exchange, might be an average.
Users do the arbitrage trading. And you can program a bot to trade for you. Do the maths

>>3086216
Shut the fuck up faggot. Next time just answer his fucking question. Get the fuck off this board summerfag.